Chartwell Investment Partners LLC Lowers Stake in Mueller Water Products, Inc. (NYSE:MWA)

Chartwell Investment Partners LLC reduced its holdings in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 50.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,482 shares of the industrial products company's stock after selling 360,507 shares during the period. Chartwell Investment Partners LLC owned approximately 0.22% of Mueller Water Products worth $7,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Gabelli Funds LLC increased its stake in Mueller Water Products by 3.7% during the first quarter. Gabelli Funds LLC now owns 757,810 shares of the industrial products company's stock valued at $12,193,000 after purchasing an additional 27,000 shares during the last quarter. Quantbot Technologies LP bought a new position in Mueller Water Products during the 1st quarter worth approximately $452,000. Assenagon Asset Management S.A. grew its holdings in Mueller Water Products by 194.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,033,939 shares of the industrial products company's stock valued at $18,528,000 after purchasing an additional 682,740 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Mueller Water Products by 13.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 694,469 shares of the industrial products company's stock valued at $11,175,000 after buying an additional 83,567 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Mueller Water Products by 19.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 191,210 shares of the industrial products company's stock worth $3,077,000 after purchasing an additional 31,739 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company's stock.

Mueller Water Products Price Performance

Shares of MWA traded down $0.84 during trading hours on Tuesday, reaching $25.13. The company had a trading volume of 1,392,435 shares, compared to its average volume of 1,258,679. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. Mueller Water Products, Inc. has a 12-month low of $12.76 and a 12-month high of $26.28. The firm has a 50 day simple moving average of $21.63 and a 200-day simple moving average of $19.83. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 1.51 and a beta of 1.34.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $348.20 million for the quarter, compared to analyst estimates of $324.80 million. Mueller Water Products had a return on equity of 19.71% and a net margin of 8.82%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Research analysts expect that Mueller Water Products, Inc. will post 1.13 earnings per share for the current year.

Mueller Water Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th will be given a dividend of $0.067 per share. This is a boost from Mueller Water Products's previous quarterly dividend of $0.06. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, November 8th. Mueller Water Products's payout ratio is presently 35.62%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MWA. Oppenheimer reiterated an "outperform" rating and issued a $27.00 price target (up from $26.00) on shares of Mueller Water Products in a report on Friday. Royal Bank of Canada boosted their price target on Mueller Water Products from $20.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 7th. TD Cowen lowered Mueller Water Products from a "buy" rating to a "hold" rating and lifted their price objective for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Mueller Water Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Mueller Water Products has an average rating of "Hold" and an average price target of $22.20.

Insiders Place Their Bets

In other Mueller Water Products news, Director Christine Ortiz sold 8,800 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the sale, the director now owns 34,699 shares of the company's stock, valued at $691,898.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Thomas J. Hansen sold 10,791 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.55, for a total value of $221,755.05. Following the sale, the director now owns 102,792 shares in the company, valued at approximately $2,112,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christine Ortiz sold 8,800 shares of Mueller Water Products stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total transaction of $175,472.00. Following the sale, the director now directly owns 34,699 shares in the company, valued at $691,898.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Mueller Water Products Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.